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Sep 5, 2012 4:25am EDT
president obama on the national debt which has reached a dubious milestone. jim engle takes a look at what those numbers mean to your bottom line. >> reporter: the republican convention fee tarred debt clock but it is during the democratic convention the debt is hitting at sounding figure of $16 trillion. >> it is just another one of those reminders that we are piling on the debt in a dangerous way with no plan to start to bring it back down to a reasonable level. >> it is entirely appropriate that it happened during the democratic national convention. 5.4trillion of the $16 trillion in federal debt have happened in the past four years. >> reporter: the $16 trillion debt is being piled on future taxpayers whose current share of the des is now $189,000 per household and growing. >> here is the bottom line. we want to spend a left money. we don't want to pay for it so we are handing that bill to our kids. it is pretty unconscionable and yet that is what it is. >> reporter: for families, analysts say every dollar of the debt is a future tax increase. >> it is a big imposition on their li
Search Results 0 to 0 of about 1